Strategy buys 13,927 bitcoin for $1 billion, entirely through STRC

Last week's purchases were completely funded by sales of Stretch, the companies perpetual preferred stock.

What to know:

• Strategy purchased 13,927 bitcoin for about $1 billion last week at an average price of $71,902 per coin.
• The company has spent roughly $59.02 billion on its bitcoin at an average cost of $75,577 per coin.
• MSTR shares are down 2.5% pre-market.

Michael Saylor’s Strategy (MSTR) added 13,927 bitcoin to its treasury over the past week at an average price of about $71,902 per coin, for a total cost of roughly $1 billion, according to a Monday filing.

The purchase brings the company’s total holdings to 780,897 BTC, acquired for approximately $59.02 billion at an average cost basis of $75,577.

Last week’s acquisitions were entirely funded by $1 billion raised through sales of the company’s preferred stock, Stretch (STRC).

The current price of bitcoin is hovering just below $71,000, while MSTR shares are down more than 2.5% in pre-market trading.

Read More: The one metric investors are overlooking in Michael Saylor’s Strategy

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